Japan: PM Fumio Kishida to Resign in September
Japan's: PrimePM Minister Fumio Kishida to Resign in September
The Facts
On Wednesday, Japanese Prime Minister Fumio Kishida announced that he would step down and not seek re-election as the leader of the ruling Liberal Democratic Party (LDP) next month. The head of the party with the most seats in parliament is the head of government in Japan.
At a press conference in Tokyo, Kishida said he made this "heavy decision" to allow the public to have "transparent and open elections" and to show that "the LDP has changed."
The Spin
Kishida had been a dead man walking for quite some time. Slush fund scandals, a sliding yen, rising living costs, the LDP's ties to the scandal-hit Unification Church, unexpected recession, and ballooning debt levels have all fueled mistrust in his leadership. The LDP may deflect rising criticism to maintain its grip on power. However, but regardless of who theits LDP's leader is, the party's nature will remain the same, which— is why the public must not fall for it.
Kishida's decision is regrettable. He pushed through Japan's biggest wage increases in decades, led Japan out of COVID with massive stimulus spending, revised a law to establish a support fund for children to fix the country's low birth rate, and propelled the Nikkei stock average to reach its highest level in aboutnearly 34 years. Despite his departure, his three-year achievements — a testament to his dedication and service to the nation — will not disappear into oblivionremain.
With unfavorable circumstances around him, Kishida probably had no choice but to step down and resurrect the party as well as the world's fourth-largest economy. However, the issues that troubled him haven't gone away with him. It will be very difficult to revive support for the LDP, and even if the LDP wins the next general election, the new prime minister may be hard-pressed to meet the nation's concerns without alienating a disgruntled electorate.
